Combine that with a strong work ethic and a passion for the business his family founded, and it has provided the foundation for Family Dollar’s continued success. “We know small-box retailing,” Levine says. “We know what the opportunities are. I think the future is just outstanding for Family Dollar.”

He became CEO in 1998, taking over for his father and company founder, Leon Levine. The Matthews-based discount retailer, which opened in 1959, now operates more than 7,400 stores in 45 states. It has 55,000-plus employees.

Family Dollar has managed to carve out its niche in the increasingly crowded dollar-store arena. It knows its customer base is seeking high-quality products at affordable prices and convenient store locations, Levine says. A weaker economy has more customers turning to Family Dollar as they seek deals to stretch their paychecks. “As long as we execute and take care of the customer every single day, I think those opportunities only get better,” Levine says.

Consistency is what has set Family Dollar apart from others in the dollar-store sector, he adds.

Family Dollar reported net sales of $9.33 billion in fiscal 2012, which ended in August. That was up 9.2% from the previous year. The company has had 18 consecutive quarters of double-digit earnings growth.

“I think Family Dollar has been a great investment, whether you believe it’s good times coming or bad times coming,” Levine says. “It really just speaks to the nature of our business model.”

He attributes much of that success to his senior management team, which has been revamped during the last year to include top talent in the retail industry. But he knows Family Dollar must continue to improve its operations to stay relevant.

That includes $650 million in investments this fiscal year in its stores, products, private brands and global sourcing. “We’re not making long-term sacrifices for short-term gains,” Levine says.

A soft real estate market combined with a strong financial position will allow Family Dollar to control its destiny, he adds.

The company added 475 stores last fiscal year. This year, it plans 500 more. It anticipates new-store growth will be in the 5% to 7% range annually in the years ahead.

It also will renovate 800 locations this year at a cost of roughly $150,000 per store.

“The renovation program itself is really what we’re using to position Family Dollar for the future,” Levine says.

The chain also has expanded its product assortment, adding 2,000 items to its inventory in food, health and beauty offerings. That’s up 40% over the last two years. And it plans to add 500 products in those areas this year.

The retailer also signed a six-year distribution agreement with McLane Co. Inc. to create a more reliable supply chain. That deal made it possible to add tobacco products to roughly 6,000 stores and will make it easier to tweak product assortments.

Sales in the consumables category increased 13.2% to $6.4 billion in fiscal 2012. But those items have slimmer margins, which make it critical to generate savings and control costs when possible, Levine notes. “That’s the pressure point that it puts on our financials.”

The company wants to increase the proportion of goods it purchases overseas directly from the factory to 13% within two years, up from the current 4%. That will allow Family Dollar to improve the quality of foreign goods it buys, while improving its margins. It also plans to be aggressive in developing private brands. Levine says there’s room for growth in that area, with those products generating higher profits.

And the long-term goal of doubling the number of stores is within reach, Levine adds. The retailer opened its first stores in California in 2011, and he sees opportunity for additional growth out West.

It will open its 11th distribution center in Utah by summer to support those efforts. Levine notes expansions into Mexico and Canada are possible. “What I see is a few things that are pointing toward a bright future.”